BackupExec 2010 and Microsoft Hyper-V Server 2008 R2

Yes, the Hyper V agent is to be installed on the Hyper V host

Here is a KB for your reference - http://www.symantec.com/docs/HOWTO23071

Thank you so much.  That document had all the info I was looking for.  I guess it's already been a long week.  :)